Ludhiana Jewellery Shop Accountant Flees After Alleged Gold and Cash Embezzlement
A trusted accountant and caretaker of a prominent jewellery shop on College Road in Ludhiana has absconded after allegedly embezzling a substantial amount of gold and cash through a sophisticated system of fraudulent bookkeeping. The suspect, identified as Ram Shankar, has been charged with criminal breach of trust and theft following the discovery of massive discrepancies in the shop's inventory and financial records.
The Trusted Employee Turned Fugitive
Vikram Jain, the owner of the jewellery establishment located near Fountain Chowk, informed the police that Shankar had been a fixture of the business for four years. Entrusted with the dual roles of accountant and stock manager, Shankar was responsible for overseeing all gold purchases, sales, and the physical inventory of the vault. His long-standing position and deep knowledge of the shop's operations allowed him to gain significant trust from his employer.
The scheme reportedly began to unravel last week when Jain noticed irregularities in the stock levels. Upon confronting Shankar on Thursday, the accused promised to provide a full reconciliation the following morning. However, he never returned to work, prompting immediate concern and investigation.
The Digital Paper Trail of Deception
Following Shankar's disappearance, Jain conducted a comprehensive audit of the shop's computer systems. The review allegedly revealed a pattern of "ghost" transactions designed to conceal the theft. According to Jain, Shankar showed fake sales of gold as cash payments in the accounting system. These fraudulent entries were used to justify the removal of physical gold stock, which he then allegedly pocketed for personal gain.
Police believe that Shankar utilised his expertise in the shop's accounting software to mask the theft for a considerable period. It was only when the physical volume of missing gold became too large to hide that the irregularities came to light, leading to the discovery of the elaborate fraud.
The Manhunt and Legal Proceedings
Inspector Amritpal Sharma, head of the Division Number 8 police station in Ludhiana, confirmed that a formal case has been registered under the Bharatiya Nyaya Sanhita (BNS). The accused has been booked under charges of theft by a clerk or servant and criminal breach of trust. Inspector Sharma stated, "He is currently on the run, and tracking teams have been deployed to locate him."
Shankar, originally from the Gonda district of Uttar Pradesh, is believed to have fled the local area. Authorities are actively reviewing surveillance footage and digital logs as part of the ongoing investigation to trace his whereabouts and gather evidence for prosecution.
This incident highlights the vulnerabilities in financial oversight within small businesses and underscores the importance of regular audits and checks. The case continues to develop as police intensify their efforts to apprehend the suspect and recover the embezzled assets.
